2009.09.10 DRAIN THE BANKS - LIKE A RAT

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DodgeV83
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Postby DodgeV83 » Fri Nov 19, 2010 5:14 am

Something to think about for the newbies who disregard TRO's advice to stick to one pair, especially when starting out...

If you're a Red Rat and constantly switch between highly negative correlated pairs, you are a Yale student. For example, if you trade short EUR/USD one day, then switch to short USD/CAD the next day, you might as well have gone long EUR/USD (and kept the better spread :wink:)

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cosmoe1
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Postby cosmoe1 » Fri Nov 19, 2010 7:26 am



price stops making lower lows, price finally decides to make a higher low.

green rat goes long if price is within 20 pips of daily low. you have to WAIT for a candle to close green. IF the next candle goes higher than the previous green
candles high price go long.

always use a 10 pip stop loss.

you only need 20 pips profit a day to make decent money. you do not have to get the 20 pips all in one trade. if you are in profit and price starts going against you, close your trade. then rince and repeat.

you have to be patient. if you are having a hard time with price going against you, walk away. You will need to trade when there is good volume in the market. the market only has good volume about 30% of the day, because your broker always takes the same same trade you do , only in the opposite direction. (but thats a whole other disscusion).

cos
cos

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 19, 2010 2:12 pm

Image



Price within 20 pips of the daily low (ClLo <= 20) - that is OPPORTUNITY

Current price - current daily low is less than 20 pips.

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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 19, 2010 2:26 pm

Image


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The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

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"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

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PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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cosmoe1
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Postby cosmoe1 » Fri Nov 19, 2010 4:00 pm



as you can see from this shot I do not get winners 100% of the time. lost 10 pips on first trade. closed out 2nd trade +20 pips.

losing is just part of trading.

cos

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maddman
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Postby maddman » Fri Nov 19, 2010 6:09 pm

Could someone actually list the correlated pairs?

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 19, 2010 6:18 pm

maddman wrote:Could someone actually list the correlated pairs?


This may help:

http://fxlabs.oanda.com/products/FXCorr ... index.html

All pairs are "correlated"... some are positively correlated and some are negatively correlated. It is the degree of correlation that matters.
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cosmoe1
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Postby cosmoe1 » Fri Nov 19, 2010 6:33 pm

I do not use correlated pairs. Just pick one pair until you get the hang of using the rat trade. Trying to trade too many pairs at one time to start out with will be way to hard.
The pair I like is G/U because of the time of day I can trade. Just pick a pair and stick with that pair.
Cosmoe1

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maddman
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Postby maddman » Fri Nov 19, 2010 8:16 pm

Tro, where do I find Tro2010_OHLC_HIST and Tro2010_RAT_HIST? Like in the bottom of the screenshot in today's post you made.

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 19, 2010 11:42 pm

Maddman, those are 2010 donational indicators that I will be testing for the rest of the month. Then I will send them out.
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